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 September 13, 2018 - 11:32 AM EDT
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Stocks stay positive as rates fall

Stocks stay positive as rates fall

Stocks rose on Thursday, boosted by lower rates stemming from weaker-than-forecast inflation data as well as a rebound in Apple shares.

The Dow Jones Industrial Average prospered 93.37 points to 26,092.29, with Apple contributing the most to the gains.

The S&P 500 stayed afloat 10.39 points to 2,899.31, led by gains in materials and tech.

The NASDAQ strengthened 56.87 points to 8,011.10

Equities came off their highs, however, after President Donald Trump said there was no pressure to strike a trade deal with China.

Apple shares gave the broader equity market a boost as well as they rose more than 1%. The move comes after Apple unveiled three new iPhones on Wednesday.

Other tech stocks also rose on Thursday, including Advanced Micro Devices and Nvidia. AMD jumped more than 5% while Nvidia gained 1.4%.

Sentiment improved after news emerged that the U.S. was seeking to reignite trade discussions with China. Sources told the media that the United States was in the early stages of proposing a new round of trade talks with China in the near future.

This comes after a week of turmoil between the two nations, which saw China looking to seek permission from the World Trade Organization to inflict sanctions upon the U.S., and President Donald Trump stating last week that he was "ready to go" on hitting China with an additional amount of tariffs. Consequently, an air of cautiousness lingers for markets around the world.

Shares in Boeing picked up 1%, and Caterpillar, another bellwether for global trade, rose 0.8%.

The Commerce Department said the consumer price index — a widely followed inflation metric — rose 0.2% last month. Economists expected a gain of 0.3%

Investors had grown fearful of rising inflation recently, as it could lead to tighter monetary policy. The Federal Reserve has raised rates twice this year and is forecast to hike again later this month.

Prices for the benchmark for the 10-year U.S. Treasury gained a bit of ground, lowering yields to 2.95% from Wednesday's 2.98%. Treasury prices and yields move in opposite directions.

Oil prices subsided $1.53 to $68.84 U.S. a barrel.

Gold prices sank $1.80 to $1,209.10

Source: Livemoney (September 13, 2018 - 11:32 AM EDT)